Talvivaara Mining Company Plc (TALV.L) Thursday released the financial results for the second quarter and first half ended 30 June 2012, reporting wider net loss for the second quarter on marginal decline in Net sales and sharp increase in operating costs.
The company reported net loss for the second quarter of 17.47 million Euros, or loss of 0.06 Euros per share, wider than a net loss of 7.49 million Euros or loss of 0.03 Euros per share, reported for the corresponding second quarter of 2011.
Net Sales for the second quarter were 33.44 Million Euros, lower than net sales of 37.65 million Euros reported for the year-ago period.
CEO Harri Natunen comments: "Reporting my first quarter as the CEO of Talvivaara, I am pleased to note that the organisational and production changes that we implemented during the spring have started to show good progress in production stability, with the metals plant reaching a new monthly record of solution flow rate into the plant in June and the stacking of new ore continuously improving. Equally significant, we are also seeing important improvements in personnel morale and our environmental performance…."
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